
Honest Act is Anything But
When there is a Congressional act named “Honest Act,” it must be disingenuous. It was formerly called the “PELOSI Act” after the person who was largely responsible for not advancing Congressional restrictions on making investments while in office. Despite her lies, she (and her husband) profited immensely from financial abuse of her position. The “Honest Act” sets out to cure that but fails. I have been all over this issue for a long time as members of Congress have appeared to abuse their positions, thus enriching themselves. Of course, when questioned, each stated they did not use their power or special knowledge gleaned from their positions to be enriched. On my very first day working for a mega-international CPA firm 49 years ago, I was taught an essential concept. That concept is that the appearance of a conflict of interest is the same as a conflict of interest. Many of our elected representatives in Washington clearly do not understand that concept. I previously proposed a simple solution. That is to have managed investment accounts. The Beautiful Wife and I have had one for 25 years. Despite spending immense time… Read More